Page 112 - DMGT104_FINANCIAL_ACCOUNTING

Financial Accounting

Notes
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Caution Debit Note: Whenever goods are returned to the supplier, a letter which is known
as the debit note is also sent along with returned goods. The purpose of this note is to
inform the supplier about this deduction or debit given to his account. This note contains
the following particulars such as:
(a) Name and address of the supplier

(b) Description of the goods returned
(c) Rate and total value
(d) Invoice No., along with date
(e) Signature

Example: Enter the following transactions in proper Subsidiary Books.
2011 ( )
Jan. 1 Purchased goods from Ramu 5.000
Jan. 2 Bought goods from Hari 6,500
Jan. 8 Goods returned to Hari 50
Jan. 10 Bought goods from Gopal 15,000
Jan. 14 Krishna sent goods. 20,000
Jan. 20 Returned goods to Gopal 150

Jan. 22 Returned goods to Ramu 80
Jan. 25 Goods purchased on credit from X & Co. 8,000
Solution:
Purchases Day Book
Date Particulars L.F. Invoice No. Amount ( )
2011
Jan.1 Ramu 5.000
Jan.2 Hari 6500
Jan.10 Gopal 15000
Jan. 14 Krishna 20,000
Jan.25 X & Co. 8000
Total 54,500

Purchases Returns Book

Date Particulars L.F. Debit note No. Amount ( )
2011
Jan.8 Hari 50
Jan.20 Gopal 150
Jan.22 Ramu 80
Total 280

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